Category: Business

ISLAMABAD: The country’s economy needs to create more jobs by taking advantage of the large influx of a well-educated young labour force, says a new research by the World Bank. The ‘Labour Market Analysis’ using data from a Pakistani online job portal finds that although there is an excess supply of highly educated workers, certain […]

President Xi Jinping said on Friday that China wants to reach an initial trade deal with the United States but is “not afraid” to fight back when necessary. Xi made the remarks two days after US President Donald Trump complained that Beijing had not made sufficient concessions so far, making him reluctant to conclude a […]

ISLAMABAD: Pakistan has offered the UAE-based Etisalat to deduct about Rs9 billion ($60 million) from its $800m outstanding sale pro­ceeds of the Pakistan Tele­com­munication Company Limited (PTCL) to settle a decade-old dispute. Presiding over a meeting of an inter-ministerial committee on PTCL privatisation, Adviser to the Prime Min­ister on Finance and Rev­enue Dr Abdul Hafeez […]

The Chinese e-commerce giant Alibaba has raised at least $11 billion in a share offering in Hong Kong, netting the city’s biggest offering since 2010 despite recent political turmoil. Alibaba on late Wednesday set the price for the secondary share offering at 176 Hong Kong dollars ($22.50) per share. The price is a 2.9 per […]

The Trump administration on Wednesday gave Huawei its second reprieve this week, allowing some suppliers to restart sales to the Chinese telecoms giant after it was placed on a trade black list over national security concerns six months ago. The Commerce Department said it has begun issuing licenses for some companies to sell goods to […]

KARACHI: The government has raised less than half of its target through the Market Treasury Bill auction on Wednesday. The State Bank of Pakistan reported the government raised Rs239.7 billion through T-bills, as against the target of Rs500bn. For the last several auctions, the government has been raising liquidity less than its target amounts, reflecting […]

ISLAMABAD: Prime Minister Imran Khan has said his government’s long-term policies will strengthen tax culture and bring economic stability to the country. Addressing a ceremony here on Wednesday to distribute refund cheques among prominent exporters, he said this disbursement of Rs30 billion would result in improved cash flow for taxpayers in general and export-oriented sectors […]

India has granted the country’s beleaguered telecom giants a moratorium on spectrum payments until the end of March 2022, offering much-needed respite after the Indian top court slapped a massive $13 billion bill on the companies. Vodafone Idea and Bharti Airtel bore the brunt of last month’s court ruling ordering firms to pay a combined […]

ISLAMABAD: Prime Minister’s Special Assistant Nadeem Babar on Tuesday called for closure of the country’s existing petroleum refineries for being obsolete and said the shale gas exploration in the country would begin next month. Speaking at the inaugural session of the Annual Technical Symposium and Exhibition of the oil and gas companies, Babar said “the […]

KARACHI: The price of tomato hit a record high in Karachi on Tuesday and reached Rs400 per kilogram from Rs300-320 per kg on Monday. In the absence of any landed price of the Iranian tomato, greedy traders also brought the price of Swat and Sindh crop at par with the Iranian tomato rate to make […]